UK: THE NUMBERS GAME - CAPACITY TO CONFUSE.

UK: THE NUMBERS GAME - CAPACITY TO CONFUSE. - Capacity constraints are often a harbinger of inflation. But does this mean 'capacity utilisation' statistics are worth paying attention to, asks Gerard Le Page?

Capacity constraints are often a harbinger of inflation. But does this mean 'capacity utilisation' statistics are worth paying attention to, asks Gerard Le Page?

If we organise the multitudinous statistics, indicators and figures available for the UK economy into a league of usefulness, inflation and unemployment head the Premiership, the last election's opinion polls face outright relegation and 'capacity utilisation' (CU) belongs halfway down the first division. CU can be a useful, even predictive measure - but equally it is prone to ambiguity, and is best taken with a decent-sized pinch of salt.

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